The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Edinburgh Park (Management) Limited is a private company limited by guarantee incorporated in Scotland. The registered office is Level 5, 9 Haymarket Square, Edinburgh, EH3 8RY.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The directors have considered the cash requirements of the company for at least the next 12 months and consider there to be adequate financial resource within the company. The financial statements are therefore prepared on the going concern basis.

The financial statements do not include any adjustments that may result from any significant changes in the assumptions noted above in preparing the financial statements on a going concern basis.

Revenue consists of service charges. These are recognised over the period in which they are due and is measured at the fair value of the consideration received or receivable.

Any excess of income over expenditure is returned to tenants as a credit at end of year. These funds are held within other creditors.

Income recognised on the grant of an option is recognised when it becomes payable.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Tag Handling policy

Tag Handling represents funds received from users of the barriered vehicle access route at Edinburgh Park. The balance represents deposits refundable on return of key fobs by users.

Sinking Fund policy

The Sinking Fund represents the funds that are to be utilised when capital works take place at Edinburgh Park. This fund has been built up over a number of years and represents the amount allocated in the annual budget over the years as a Sinking Fund allocation by Edinburgh Park (Management) Limited.

The average monthly number of persons (including directors) employed by the company during the year was:

Included in other debtors is £1,460,991 (2023 - £975,787) which represents funds held in designated client accounts in the name of the company.

Included in other creditors are sums due to occupiers that have been held for the purposes of building up a fund to cover future capital and repair costs.

During the year, the company charged service fees totalling £88,146 (2023: £74,329) to companies under common directorship.

Operating lease commitments are payable to a company with common directors, with £37,500 (2023: £35,000) payable to this related party recognised in Administrative expenses.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

At the balance sheet date the company had a contingent asset in respect of an option over land access amounting to £960,000. At the year end £720,000 has been received by the company. The remaining £240,000 will be received when the development work starts on the site which could be anytime up to three years.

In the view of the directors there is no ultimate controlling party in relation to Edinburgh Park (Management) Limited.